AAA: Gas prices fall in Ohio; Crude prices trending higher


Staff report



The average price of gasoline across South Central Ohio is two cents lower this week at $3.163 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $3.163

Average price during the week of December 6, 2021 $3.182

Average price during the week of December 14, 2020 $1.989

The average price of unleaded self-serve gasoline in various areas:

$3.359 Athens

$3.047 Chillicothe

$2.952 Columbiana

$3.209 East Liverpool

$3.280 Gallipolis

$2.969 Hillsboro

$3.291 Ironton

$3.245 Jackson

$3.144 Logan

$3.243 Marietta

$3.112 Portsmouth

$3.093 Steubenville

$3.061 Washington Court House

$3.274 Waverly

Pump prices continue their slow seasonal descent as the national average for a gallon of gas fell two cents on the week to $3.33.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by nearly 4 million barrels to 219.3 million barrels last week. Meanwhile, gasoline demand was relatively flat, creeping upwards from 8.8 million barrels per day to 8.9 million barrels per day. The slight increase in demand was countered by crude prices in the low $70s per barrel.

At the close of last week’s formal trading session, West Texas Intermediate increased 73 cents to settle at $71.67. Crude prices increased slightly after EIA’s weekly report showed that total domestic crude inventories decreased by 200,000 barrels to 432.9 million barrels. The current storage level is approximately 14 percent lower than last year’s storage level at this time, which is helping to keep crude prices elevated. Additionally, prices rebounded last week as optimism increased that the omicron variant of the COVID-19 virus will not have as large an impact on global energy demand as initially feared.

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Staff report